Recent legislation includes several new deductions and credits that may reduce tax bills or increase refunds, the IRS announced on Jan. 6. Beginning in 2025, to be eligible to claim certain credits ...

As you explore tax credits, you'll come across three types: refundable, partially refundable and nonrefundable. The key ...

Kelly Phillips Erb is a Forbes senior writer who covers tax. Author’s note: The standard deduction amounts, state and local tax (SALT) caps, and maximum amount of the child tax credit have been ...

New tax deductions for overtime pay, tips, seniors and car loan interest don’t disappear immediately when income crosses a line. Some deductions, such as one for those 65 and older, end up being ...

According to state officials, the measure would wipe out a state deduction for charitable donations and increase a tax paid ...

Forbes contributors publish independent expert analyses and insights. Admitted NY Bar and US Tax Court, covers US international tax law. The One Big Beautiful Bill Act introduces a significant ...

The 2018 Tax Act created a new deduction for qualified business income earned by an individual. The basic deduction is 20% of the income earned from the business. This deduction is available whether ...

Financial advisor fees are not tax-deductible now, but there are still tax benefits from working with an advisor.